Is 78 the readout you have on the electronic sensor? If so it probably includes atmospheric pressure which will be between 12ish and 15ish psi. The stock valve springs are good until 60 true psi, some do fine at 65 psi. so if your readout is absolute, then subtract the atmospheric pressure (12-15) from the total, and if it goes over 60ish you could end up with damage. The EGR delete kit would definitely be a step in the right direction, and help in getting your truck reliable if you don't blow it up in the process by working it like an illegal immigrant. As long as you're not stupid about it (meaning you watch your gauge, and lift before something bad happens), then it's a good thing.
If this is a truck that some dummy kid bought on daddy's money then I'd say no way. If you're the kind of guy who takes care of your stuff, and won't push it beyond it's limits, then go for it. Good luck figuring it out.